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lately because of this argument that we're having in this country now about taxation, how to fund the government while dealing with the deficit. you have suggested something which coincidentally is called the buffett rule which i think, like lou gehrig's disease is very unbelievable that this rule would just happen to be promoted by -- >> the diseases were already taken. (laughter) (applause) >> jon: i assume bufferin has something to do with it. you have come out and said you would prefer something where the rich pay a flat -- at least 30%. on their money. why do you say that? >> well, if they make over a million, i say on the amount over a million they ought to pay at least 30% and over $10 million they ought to pay 35%. most of the people -- in fact, virtually all of the people in my office, 20 or so people, between payroll and income taxes they pay more than 30%. a number of the extremely wealthy people pay less than 15% and some pay less than 10% and some pay nothing. >> jon: this is because of capital gains and the cayman islands. >> the whole works. >> jon: and bags that are kept dangling
lately because of this argument that we're having in this country now about taxation, how to fund the government while dealing with the deficit. you have suggested something which coincidentally is called the buffett rule which i think, like lou gehrig's disease is very unbelievable that this rule would just happen to be promoted by -- >> the diseases were already taken. (laughter) (applause) >> jon: i assume bufferin has something to do with it. you have come out and said you would...
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Dec 3, 2012
12/12
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that's the kind of thing government can do. government can do a lot on the regulatory side to slow things down if you forget to have effective cost-benefit analysis, but it can do a lot on the project side to really find something that works and the community becomes the laboratory for change and that others can then model. you do not have to do it everywhere and if you can show in water to a location that there really work. that is the driving force behind the idea of that lamar has been a significant spokesperson for. >> do like that car? >> i do like it. i have driven my leaf. i live in this building in a plug in the wall when i go home at night. that's all i have to do. deployment communities are a good idea. sometimes the government can have a demonstration project that makes a difference. they did a hydraulic factory and we have had fracking are around forever. three things made a difference in it. one was a huge to demonstrate that you could do it in a big way which was helpful. the second was the laboratory inventing 3d
that's the kind of thing government can do. government can do a lot on the regulatory side to slow things down if you forget to have effective cost-benefit analysis, but it can do a lot on the project side to really find something that works and the community becomes the laboratory for change and that others can then model. you do not have to do it everywhere and if you can show in water to a location that there really work. that is the driving force behind the idea of that lamar has been a...
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Dec 6, 2012
12/12
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caller: we get a line of government workers or people working in the government sector. people who work hard. they have a house. real estate is expensive. a five million-dollar house is not uncommon in d.c. you have half of your exemption gone. host: the state to take the house and put it in a trust. caller: you have to put that in a non revocable trust. it gets complicated. do not do this on the internet. you can make use of non revocable trust. you can make it an asset. the average person doesn't know that. host: how do you do that in two weeks? caller: you can do it. most people's major asset is their home. for people that have more money, it gets harder. give now. if you intended to give money to your kids, do with this year. get it out. if you wait, it is going to be harder. this gets complicated. you have an exemption. there is a current level of how much you can give to any one person. that right now is $5 million tax free this year. next year that drops to $1 million. if you wanted to give money to your kids or give your kids and house, this is the year to do it.
caller: we get a line of government workers or people working in the government sector. people who work hard. they have a house. real estate is expensive. a five million-dollar house is not uncommon in d.c. you have half of your exemption gone. host: the state to take the house and put it in a trust. caller: you have to put that in a non revocable trust. it gets complicated. do not do this on the internet. you can make use of non revocable trust. you can make it an asset. the average person...
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make sure people in washington understand is if all that is done is a cost shifting from the federal government to the state, it doesn't accomplish much because states are not in a position to pick up the extra costs. >> speaking as governor of the stage we execute. we have to get things done. unfortunately congress doesn't. they can throw rocks at each other and leave it for another day and kick the can down the road. governors have to get things done today. we would hope congress will watch the governor's listen to the states. i think we can help him find compromise. liz: governor mark l. will be on neil cavuto tonight at 8:00 p.m. eastern. you cannot miss that interview. see what he has to say about today's trip to the white house. he does amazing interviews with these governors. you got to hear what he has to say. the fear of falling over the cliff real if you with a look at the chart of the fear index, you might not think so at all. it is incredibly low but market players and insiders are already making trades in advance of something aaron next guest says is about to get to the mix. let's
make sure people in washington understand is if all that is done is a cost shifting from the federal government to the state, it doesn't accomplish much because states are not in a position to pick up the extra costs. >> speaking as governor of the stage we execute. we have to get things done. unfortunately congress doesn't. they can throw rocks at each other and leave it for another day and kick the can down the road. governors have to get things done today. we would hope congress will...
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Dec 7, 2012
12/12
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CNBC
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another big issue is government regulation. just focusing on lack of sales, if that's one of their key concerns, then they're probably right for this perspective. this is something that will take 6 to 12 months to work through. >> if i'm an a student and i get a b, that's bad. if i'm a c student and i get a b, that's good. we seem to become a c economy happy with a b or buy-minus jobs number. what happened to great expectations and why isn't anybody in congress talking about growth? >> well, because we've got a lot of other issues. they built the cliff and now they're trying to keep us from going over it but it is all a sort of self-made crisis if you will from the policy perspective. i think tom is right, there is a lot of structural issues holding the u.s. back. there's still deleveraging on the household side. businesses are stuck in a cautious state and probably rightly so. it's going to be a grind getting to higher rates of growth. and that's -- getting the expectations right is actually a good thing. we were overly optimi
another big issue is government regulation. just focusing on lack of sales, if that's one of their key concerns, then they're probably right for this perspective. this is something that will take 6 to 12 months to work through. >> if i'm an a student and i get a b, that's bad. if i'm a c student and i get a b, that's good. we seem to become a c economy happy with a b or buy-minus jobs number. what happened to great expectations and why isn't anybody in congress talking about growth?...
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Dec 6, 2012
12/12
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FOXNEWS
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if the syrian government is preparing to use chem weapons on its own people, the united states government needs to be prepared to take action to do what they can to stop it. i saw one report that quoted a u.s. official that said there's not much the outside world can do. that's simply not true. we need to be considering military action if that's necessary in order to make sure they don't use those gas. >> sean: do you remember when saddam hussein used chemicals weapons against the kurds? we showed it on television. we had wmds, h etc. you think some of it made it to syria? >> people a split about that. >> sean: i have. >> you're not the only one. many people do. i think the other thing that you've got to consider here is how lucky we are that the israelis took action to take out the nuclear reactor that the syrians were building in the desert back in 2007. soit most people don't know this. this was one of the greatest modern military operations ever. they went underneath their radar and they took this thing out. >> they took it out. thank goodness they did. otherwise the syrians would hav
if the syrian government is preparing to use chem weapons on its own people, the united states government needs to be prepared to take action to do what they can to stop it. i saw one report that quoted a u.s. official that said there's not much the outside world can do. that's simply not true. we need to be considering military action if that's necessary in order to make sure they don't use those gas. >> sean: do you remember when saddam hussein used chemicals weapons against the kurds?...
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Dec 4, 2012
12/12
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CSPAN
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back with government money. and that government money every year is now playing in to the repayment. and that's why people think that you can cut social security to take the tax dollars out. well, if it was a private insurance company that had that surplus and loaned that surplus to another company, that first company would expect the second company to pay it back. so that cannot part of this equation. social security and the federal money that goes into social security cannot be part of the equation in this fiscal cliff debate. certainly with the expected theme of social security surviving before 2038 before it has reduced benefits, in the very near future, this hall, this great hall has to discuss how to fix that and other great minds in this hall i'm sure can, but it does not need to be part of this debate. this does not have to be a -- it should not be a part of whatever legislation we settle in this last lame-duck session of this congress. mr. garamendi: you're certainly well stating my position and i belie
back with government money. and that government money every year is now playing in to the repayment. and that's why people think that you can cut social security to take the tax dollars out. well, if it was a private insurance company that had that surplus and loaned that surplus to another company, that first company would expect the second company to pay it back. so that cannot part of this equation. social security and the federal money that goes into social security cannot be part of the...
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Dec 5, 2012
12/12
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caller: we get a line of government workers or people working in the government sector. people who work hard. have a house -- they have a house. real estate is expensive. a five million-dollar house is not uncommon in d.c. you have half of your exemption gone. host: the state to take the house and put it in a trust. caller: you have to put that in a non revocable trust. it gets complicated. do not do this on the internet. you can make use of non revocable trust. you can make it an asset. the average person doesn't know that. host: how do you do that in two weeks? caller: you can do it. most people's major asset is their home. for people that have more money, it gets harder. give now. if you intended to give money to your kids, do with this year. get it out. if you wait, it is going to be harder. this gets complicated. you have an exemption. there is a current level of how much you can give to any one person. that right now is $5 million tax free this year. next year that drops to $1 million. if you wanted to give money to your kids or give your kids and house, this is th
caller: we get a line of government workers or people working in the government sector. people who work hard. have a house -- they have a house. real estate is expensive. a five million-dollar house is not uncommon in d.c. you have half of your exemption gone. host: the state to take the house and put it in a trust. caller: you have to put that in a non revocable trust. it gets complicated. do not do this on the internet. you can make use of non revocable trust. you can make it an asset. the...
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Dec 5, 2012
12/12
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we can argue about whether we should do it from the federal government or from the state government or from our communities and our chumps but of course we're committed to fulfilling those goals. but we cannot, it is not fair and i argue it is immoral to face the kind of challenges that we're facing and say, you know what, we, the 80% of america, aren't going to help at all. we're already paying 6% of all the bills. there are 80% of us. we're the primary beneficiary. we're paying 6% of all the bills. we don't want to pay more. tax them. that is incredibly dangerous. and anti-theycal to who we are as a republic -- antithetical to who we are as a republic. ben franklin is often cited, if people find they can vote themselves money that will herald the end of the republic. that makes sense. it takes 51% to win an election. if 51% of the people can make sure that 49% have to bear all the burdens and pay all the bills and do all the fighting, then the thore 51% can take the day off. then franklin worried about that over 200 years ago. milton friedman, passed away, by his words are still with
we can argue about whether we should do it from the federal government or from the state government or from our communities and our chumps but of course we're committed to fulfilling those goals. but we cannot, it is not fair and i argue it is immoral to face the kind of challenges that we're facing and say, you know what, we, the 80% of america, aren't going to help at all. we're already paying 6% of all the bills. there are 80% of us. we're the primary beneficiary. we're paying 6% of all the...
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Dec 4, 2012
12/12
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sir, big government, what about the two big long wars and the big bush tax cuts as being responsible for the in accordance debt? did they have no part to play? >> well, there's no question about that, but the truth of the matter is you start your slashing of government in matter what part, laying off people, throwing them into the unemployment marment, making certain we have no disposable income, can't pay for mortgages, can't pay rent, can't pay for food and services, what happens to the small businessman that's already catching hell in the community? in other words, unless people get together and have some protection for the vulnerable and to make certain that those in the top 2% pay their fair share, and the truth of the matter is that i meet some of these people on the train coming back and forth from washington to new york, and they are saying that no one represents them in terms of protecting them against an increase in the taxes. these taxes haven't been changed since 1950. many of these people go from millionaires to billionaires and they expect that the government should be
sir, big government, what about the two big long wars and the big bush tax cuts as being responsible for the in accordance debt? did they have no part to play? >> well, there's no question about that, but the truth of the matter is you start your slashing of government in matter what part, laying off people, throwing them into the unemployment marment, making certain we have no disposable income, can't pay for mortgages, can't pay rent, can't pay for food and services, what happens to the...
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the government was there to help citigroup and lend them a hand. is this new citigroup going to be a better citigroup? >> i certainly think there will be four more focus on generating the operating leverage in each of the individual businesses in the company has been for quite some time. in our view, citigroup's model for the past decade or so has really focused on growth and specifically within revenue growth. not so much within expense discipline. now you have two gentlemen that are focused making sure the expense dividend is part of the story. cheryl: we are so top-heavy covetous bureaucratic, too many middle managers and players. what do they need to do to deliver on the earnings per share and kind of get the taint off of the name citigroup. >> getting rid of what's referred to as taint is a long, slow process that won't be done in one press release or one day or one earnings announcement. i think the fact that you now have a new management team in place, a management team we believe is focused on generating cost savings. that in and of itself
the government was there to help citigroup and lend them a hand. is this new citigroup going to be a better citigroup? >> i certainly think there will be four more focus on generating the operating leverage in each of the individual businesses in the company has been for quite some time. in our view, citigroup's model for the past decade or so has really focused on growth and specifically within revenue growth. not so much within expense discipline. now you have two gentlemen that are...
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Dec 5, 2012
12/12
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they will instead use it to pay for larger government, more public workers, and more government waste. we need to have a serious conversation about our federal debt, which is now over $16.3 trillion and going up every day. how do we get that number under control? the president and his democratic friends have suggested for years that they can do it on the revenue side; specifically, by taxing the wealthy. yet the new taxes on the rich promised by the president during the campaign would reduce -- would reduce the next ten years of deficits by only 8%, assuming they didn't do any more spending. so where is the rest of the money going to come from? we need to have a serious conversation about spending, but so far the president, congressional democrats, and the liberal interest groups that support them have refused to engage. all they can saall i can say ree here, we're ready to talk, we're raid to reach a balanced resolution that would spare the american people from the consequences of going over the fiscal cliff. and, madam president, i've only been here 36 years, but i've seen every pre
they will instead use it to pay for larger government, more public workers, and more government waste. we need to have a serious conversation about our federal debt, which is now over $16.3 trillion and going up every day. how do we get that number under control? the president and his democratic friends have suggested for years that they can do it on the revenue side; specifically, by taxing the wealthy. yet the new taxes on the rich promised by the president during the campaign would reduce --...
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Dec 8, 2012
12/12
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MSNBCW
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the government certainly wouldn't let you in. but the free syrian army said okay, pass through this checkpoint. >> this time i went to turkey and crossed over the border into rebel-controlled areas. and you pass through turkish immigration and walk through this sort of no man's land. and then the free syrian army folks who look at your passport. they say welcome. and that's about it. then you're in syria. >> and what goes through your mind? you're in syria. that's not a place a lot of people want to be right now. >> look, i spent a lot of my time pretty scared, frankly, reporting in the case of syria i was in an area that was rebel -- clearly rebel controlled. and so it wasn't as risky as it sounds. and people always look at me, my job and think oh, boy how dangerous. meanwhile, i always think of those photographers and camera crews who are out there. i mean when they hear gunfire their rule is to immediately rush toward the gunfire. and my basic rule of traveling in war zones you never accept a ride from a photographer because t
the government certainly wouldn't let you in. but the free syrian army said okay, pass through this checkpoint. >> this time i went to turkey and crossed over the border into rebel-controlled areas. and you pass through turkish immigration and walk through this sort of no man's land. and then the free syrian army folks who look at your passport. they say welcome. and that's about it. then you're in syria. >> and what goes through your mind? you're in syria. that's not a place a lot...
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Dec 6, 2012
12/12
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CURRENT
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i say let's get out the government grilled cheese. let's go live in our cardboard boxes and go over the cliff. i am so sick of these spoiled rich people! they're a bunch of spoiled rotten babies! i'm cooking up the government grilled cheese. we're going over the cliff! >> buckle up, here we go! >> bill: buckle up, here we go. i'm with you joey. that's the best strategy. sometimes, as i said to the president last night on your behalf hold the line! hang tough! stick to your principles. this time we got them! two years ago, it was a different scenario. two years ago i wish he hadn't done it but i understand why. the president felt that he had to cave in. not this time! mr. president, as i told him last night hold the line! when we come back, karl rove and dick morris, are you going to miss them? michael calderone from "huffington post" will tell us what that's all about. >> announcer: this is the "bill press show." the world that leave no shortage for exciting conversations. i want our viewer to understand why things have happened. at t
i say let's get out the government grilled cheese. let's go live in our cardboard boxes and go over the cliff. i am so sick of these spoiled rich people! they're a bunch of spoiled rotten babies! i'm cooking up the government grilled cheese. we're going over the cliff! >> buckle up, here we go! >> bill: buckle up, here we go. i'm with you joey. that's the best strategy. sometimes, as i said to the president last night on your behalf hold the line! hang tough! stick to your...
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Dec 6, 2012
12/12
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. >> reporter: the big question still, what will the federal government do? pot is still illegal federally. today a legal toak-up revolution burning here in colorado. the only things the feds are saying at this point is that marijuana is still illegal federally. think of it this way in washington state, it will be treated like booze, basically, hard liquor. you have to be 21. you can get busted for dui, can't drink it in public, those sorts of things. all those rules are yet to be written, in a year or so you'll have pot stores all over this state. back to you. >> a number of big employers like boeing and costco ban their employees from smoking marge math. there are other companies that have to do drug testing. will this new law change anything for employers? can workers still get fired for testing positive? >> reporter: the simple answer is no, you can still get fired. you can't smoke pot and go to work. it doesn't change anything with regard to employers who have those rules in place. even with universities here, the university of washington here is saying
. >> reporter: the big question still, what will the federal government do? pot is still illegal federally. today a legal toak-up revolution burning here in colorado. the only things the feds are saying at this point is that marijuana is still illegal federally. think of it this way in washington state, it will be treated like booze, basically, hard liquor. you have to be 21. you can get busted for dui, can't drink it in public, those sorts of things. all those rules are yet to be...
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Dec 5, 2012
12/12
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you cut into state and local governments. you cut into a whole bunch of home mortgage. >> what about the buffett proposal? >> the buffett proposal is a great idea. the buffett proposal is a kind of no-brainer. >> how much does it raise? >> $160 billion over ten years. it's a piece of the puzzle. i don't think they believe honestly that the math works to get to $1.2 trillion. >> let's also talk about the reality of leadership, where it's working and where it's not. the president did campaign on raising rates, he won the election. he can say i ran on this. he's still running on that, effectively. what he's not -- if he spent as much time on saying we have a spending problem and here's how we'll attack it, explaining the spending caps passed last year, nobody knows what's in that, as he does about #my2k on twitter. i don't think we're seeing that right now. >> to your point, the president was criticized for passing on taxes in the rich in the past. i think it's a fair line in the sand to draw. but having said that, when you have
you cut into state and local governments. you cut into a whole bunch of home mortgage. >> what about the buffett proposal? >> the buffett proposal is a great idea. the buffett proposal is a kind of no-brainer. >> how much does it raise? >> $160 billion over ten years. it's a piece of the puzzle. i don't think they believe honestly that the math works to get to $1.2 trillion. >> let's also talk about the reality of leadership, where it's working and where it's not....
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Dec 4, 2012
12/12
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place would be the best thing we can do for our economy, which would also bring revenue to the federal government. >> there's that word certainty, which we would fully understand. congresswoman, if there is not a deal reached, would you characterize that as a massive failure on the part of congress? in fact, both sides? >> yeah, i believe we either are going to succeed together or fail together. and i go back to the model from president reagan and tip o'neill in the early '80s. as they look at tax reform as well as these entitlement programs, that's the approach we need today. proven that it can be done. and we need president obama to come to the table, provide that leadership, the republicans are willing. speaker boehner is ready today. let's get the job done. >> all right. congresswoman kathy mcmorris rodgers. thank you for coming on the show. come back, glad you're there in the negotiations talking to everybody. >> eugene robinson, final thoughts this block? >> well, you know, actually congress and the president have agreed on a huge deficit reduction package. it's called the fiscal cliff. so,
place would be the best thing we can do for our economy, which would also bring revenue to the federal government. >> there's that word certainty, which we would fully understand. congresswoman, if there is not a deal reached, would you characterize that as a massive failure on the part of congress? in fact, both sides? >> yeah, i believe we either are going to succeed together or fail together. and i go back to the model from president reagan and tip o'neill in the early '80s. as...